According to ChainCatcher, crypto exchange Kraken’s parent company, Payward, announced plans to become the first CFTC-regulated deployer of HIP-3* markets on Hyperliquid, an on-chain perpetuals infrastructure platform. Payward will use Hyperliquid as its infrastructure layer to deploy perpetual futures markets for U.S. customers.

Subject to regulatory approval, Payward’s CFTC-regulated designated contract market and derivatives clearing organization, Bitnomial, will serve as the HIP-3* deployer, responsible for creating, listing, and managing the markets, as well as clearing and settling the contracts. If approved, Payward’s CFTC-registered futures commission merchant, NinjaTrader Clearing, will carry the customer accounts.

Hyperliquid says HIP-3 will support optional deployer configurations for permissioned markets in a future network upgrade, with the related new features collectively referred to as HIP-3*. At its core is an on-chain allowlist managed by the deployer or its sub-deployers. This feature is an incremental option for HIP-3; deployers decide whether to enable it, and existing markets will remain unchanged. The initial version is live on testnet, and the specification is still preliminary and may be adjusted based on feedback. Hyperliquid says HIP-3* deployers are independent operators that use their own on-chain infrastructure to run their markets and retain control and responsibility for their deployments.